If we had greater transparency in Kentucky, we would see something like this:
Kentucky’s latest retirement plan data was dated June 30, came out at the end of 2008, and showed nearly a $30 billion underfunding. After the stock market crash, it’s obviously much worse than that. The market may well bounce back at some point, but too many people in Frankfort don’t want you paying much attention to how much pain Kentucky taxpayers will face as these bills come due.
Thanks to Jack Dean at pensiontsunami.com for passing along the Texas story.